Lot 97 Freehold Investment With Sixteen Garages And Ground Rent InvestmentAuction Date:
20th March 2024
Ground Rents, 1-30 Bridge Court, Bridge Road, Grays, Essex, RM17 6BW
Currently let at £13,449 per annum
A large purpose-built modern block of 30 flats and 16 garages situated to the south of Grays town centre and within three/four miles of Lakeside shopping centre and the M25/A13 Dartford river crossing.
Each flat has been sold on a long leasehold, the details of which are contained in the table below. 15 of the flats are sold on the original leases for
99 years, from 24th June 1987, at a ground rental of
£100 per annum.
In addition, there are 16 garages which are each separately let with a total current rental income of £10,848 per annum (garage 13 is currently vacant).
Auctioneer’s Note
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation. We are advised that there is a Right to Manage Company in place.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
